I bought the burnt orange color cover so I can spot my Kindle where ever I leave it easily--and hopefully not misplace it! The cover is good quality leather, and even with the cover on, I can slip the K3 into my small purse without squeezing it in--something I could not do with my coverless Kindle 2.
For an easy purchase without having to buy a separate book light, the Kindle 3 lighted cover is a good choice. The light works _great_ reading in bed. I can see all of the lighted screen just fine with the upper right corner a bit brighter. In any of the customer cover videos/pics on Amazon, the camera picks up and exaggerates the brightness of the light in the upper right corner. In real life, it's much less distinct and I don't notice it as I read.
January 2011 UPDATE: The VIDEO shows the cover inside and out without the Kindle, and how the light fits seamlessly and pulls out. I had to keep it short to fit with Amazon's video guidelines. I have a longer lighted cover video on Youtube that continues with connecting the Kindle to the cover, and a demo of using the light in a dark room--see the "UnrulyGuides" Youtube channel for that.
Pluses: Built in light that slips securely out of the way, no batteries to replace, better clips/fit than past covers that connect to Kindle, adequate to light the entire screen, no looking for a booklight, no clipping a booklight to my Kindle and scratching or damaging it, the book light LEDs point down towards the screen, so no bright lights in your eyes.
Minuses: The cover's weight doubles the weight of the Kindle 3 in your hand, the book light stays in one corner and doesn't move around the Kindle, uses more Kindle battery life (it's powered by the Kindle 3 -- and I noticed a definite drain on the battery from using the light). BTW, this cover will NOT fit a Kindle 1 or Kindle 2.
UPDATE: I've used the Kindle light for some months now, and the battery life goes down noticeably as you use the light (esp. if you keep the wireless "On"). Last night I read with the light for about 2 hours after a full charge and today the battery looks down about 15%. At that rate of use (with no wireless constantly "On" and regular reading in the daylight), I estimate the battery will need charging after approx. 1 week.
If the overall cover+Kindle weight is an issue for you--more than protecting your Kindle and the handy light--then this cover is not for you.
Kindle Lighted Leather Cover alone = 233 grams or 8.2 oz
Kindle Lighted Leather Cover + Kindle 3 = 447 grams or 15.75 oz. (almost 1 lb.)
Thickness: Kindle cover + Kindle 3 = 3/4 inch
Cover Measurements (with Kindle inside):
Front: 7 3/4" x 5 1/8" (closer to 3/16")
Back: SAME as front
Spine: 7/8"
Open side (to the right) with Kindle inside: 3/4"
I have to say I'm getting used to the weight with the cover as I use it. The piece of mind of extra Kindle protection, plus a handy light whenever you need it, is worth the trade off for me. '
November 20th UPDATE:
**Still love the cover** and having the light handy without having to think about needing a light _is better than ever_. One thing however, is that the hooks to connect the cover are not sturdy enough, IMO, to take the cover on and off often. The Kindle "wiggles" a bit on the connectors, and be careful not to pull the Kindle forward or up off the back of the cover to avoid bending or breaking the metal connectors. Despite this, I am very happy with this cover after using it almost 3 months now.
December 27th UPDATE: A commenter asked about replacing the LED light -- a really good question.
First of all, we know there's no batteries required, so that is not a concern at all. If the cover light dims, it would be because the Kindle needs recharging. However, the Amazon CS Rep I spoke to said there's no way to replace the LED light, but shouldn't be necessary. So I asked "How long should the light last?," and she said for the life of your Kindle.